After Losing Billions in 2011, CSCL Will Likely Post Net Profit in 2012

CSCL Venus, image via Daniel Eckhart, see more of his ship images HERE

SHANGHAI–China Shipping Container Lines Co. (2866.HK, 601866.SH) said it expects to swing to a net profit in 2012 thanks to recovering demand and freight rates in the shipping industry.

In a profit alert filed to the Shanghai Stock Exchange, the country’s largest container shipper by capacity said late Friday it is expected to register a net profit of approximately 520 million yuan (US$83.5 million) for the 12 months ended Dec. 31. The company reported a net loss of CNY2.74 billion for 2011, it said.

The company is expected to release its 2012 earnings results around the end of March.